The Reserve

4 December 2017 | SUBSCRIBE

// BITCOIN’S TIPPING POINT

It is tipping point time. Bitcoin is everywhere. Every financial column I follow is commenting, daily, on bitcoin. The 10,000 USD, 1M Japanese Yen, 10M Korean Won barriers are not just broken, but blown through. Futures are further fuel - with CME and Nasdaq making announcements this week. Everyone is talking about bitcoin.

We’re at a tipping point on the road to mass - awareness.

And once aware, there are then one hundred reasons to buy bitcoin. But what underlines every single reason, and is the actual cause for action, is the expectation of an exceptional return on investment. And I think that could get problematic. Who buys currency or gold to 10X their money?

The other thing really bugging me this week is how unbelievably unfair this system is. If there was ever an example of a system making the rich richer - this is it. If you could afford 1 bitcoin at the beginning of this year, you were not poor. And that bitcoin is now worth 10X what it was.

It may be an opportune moment to mention that 51% of the economic benefits of Blockchain Reserve are bound to charity. We are not here for quick wins, but for the long term, massive positive change that blockchains could have. But I don’t think we are there yet. Anywhere near, there, yet.

// MUST READS

The IRS unsurprisingly wins against Coinbase and orders personal information on 14,355 accounts to be turned over. This is just the beginning.
Bitcoin mining uses more electricity than 159 countries in the world.
A summary of the regulatory treatment of crypto by country.
A summary of the U.S. Commodity Futures Trading Commission’s recent primer on cryptos.

// PRICING SUMMARY

// DISASTER OF THE WEEK

If we needed a reminder of the children that run parts of this blockchain world, well, here is just one more: Roger Ver, one of the many demi-gods of the sector has had yet another meltdown. TL:DR - if you don’t turn over more than $1million your opinion doesn’t count.We need better leaders.

// TRACTION

Nasdaq is planning to launch bitcoin futures in 2018.
CME is launching future contracts on December 18, this year.
Seoul and Samsung to build the city’s entire administration based on blockchain technology.
620 stores in the largest underground shopping mall in South Korea will accept bitcoin.
Paxful, bitcoin marketplace, is making a difference by funding 100 schools in Africa.
BBVA’s pilot based on blockchain for paperless trade transactions between Europe and Latin America.
38 world insurers, including Allianz, Swiss Re and AIG, sign up to collaborate on a technology initiative called B3i.
IOTA partnered with Cisco, Volkswagen and Samsung to built a secure marketplace for data.
PWC accepts bitcoin as payment for its advisory services.

// ROAD TO REGULATION

Former SEC Commissioner’s views ICOs as a blatant - almost comic - violation of the law.
Vitor Constancio, ECB vice president, warns investors about the risks of investing in bitcoin.
South Korea is planning to draw up measures to protect the country against money laundering using cryptocurrencies.
The Reserve Bank of New Zealand has released a statement regarding the risk of cryptocurrencies.
The Whitehouse is monitoring cryptocurrencies.
Securities and Exchange Commission of Brazil issues statement on ICOs.

// ICOS

Datum raised $7.3m for a decentralized marketplace for social and IoT data.
Hydrominer raised $3.6m for an environmentally friendly crypto mining company.
Wax raised $80m for a virtual goods market for online video games.

Upcoming:

Skara - January 23, 2018 - an existing gaming universe with a blockchain economy.
Bitdegree - Active - Blockchain-powered online education platform with token scholarships & tech talent acquisition.
Rexpax - December 5, 2017 - A platform for lending, sharing and borrowing items from your neighbours.

// OTHER

Energy ICOs mapped. Drivers and risks of the cryptocurrency boom according to the Financial Times. Nobel Prize-winning economist Joseph Stiglitz’s says bitcoin should be shut down. Goldman Sachs cannot trade bitcoin itself but wants to help its clients to do so. Blockchain: token as a license (TaaL). Blockchain to transform scholarly communication and research. The Economist on bitcoin breaking $10k.

// EVENTS

Moontec 2017 - Tallin, EE - December 4-5, 2017

Latin American Bitcoin & Blockchain Conference - Bogotá, CO - December 4-5, 2017

Blockchain & Bitcoin Conference Malta - Malta, MT - December 7, 2017

Bconference: Lets Blockchain This World Together - Abu Dhabi, UAE - December 7, 2017